Wilmar Subsidiary Permits Adani Commodities To Offload 7.13% Stake In FMCG Joint Venture Via OFS

Adani Wilmar Ltd. on Monday said that Lence Pte., a subsidiary of Wilmar International, allowed Adani Commodities LLP to sell 9.3 crore shares, or 7.13% stake, in the company via the offer-for-sale.

"Upon ACL's request, Lence by way of its consent dated January 09, 2025 has permitted ACL to sell, as part of the offer for sale, certain shares i.e. 92,665,806 equity shares", a regulatory filing stated.

Last week, Adani Commodities had proposed to undertake the OFS to offload up to 25.99 crore equity shares, constituting 20% of the equity share capital, of Adani Wilmar, according to the company’s exchange filing.

The base issue size comprised of 13.5% stake, or 17.54 crore shares. The company had set its OFS floor price at Rs 275 per share.

The OFS, launched on Jan. 10, was oversubscribed. The company decided to exercise the oversubscription offer to the extent of 1.96 lakh shares, representing 1.51%, in addition to the 17.54 lakh shares of the total issue.

Earlier on Dec. 30, Adani Enterprises Ltd. announced that it will exit Adani Wilmar by divesting its entire 44% stake in the joint venture.

As of the September quarter, Adani Commodities held a 43.94% stake in the company, while Lence, the unit of Wilmar International, has the remaining 43.94% stake.

Shares of Adani Wilmar on Monday closed 10% lower at Rs 262.45 apiece on the BSE, compared to a 1.36% decline in the benchmark Sensex.

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